88310, Alamogordo, NM

Home Equity and Home Prices in the 88310 Zip Code of Alamogordo, NM

The home equity and home prices in the 88310 zip code of Alamogordo, NM are very high. This is likely due to the fact that this area is located in a desirable location, has a low unemployment rate, and a strong economy. The median home value in this zip code is $269,000, which is significantly higher than the national median home value of $181,500. In addition, the percentage of homes that are owner-occupied in this zip code is above the national average of 63%. This indicates that there are many people who can afford to buy a home here.

One reason why home values are so high in this zip code is because there are many homes that have been renovated or upgraded recently. For example, one recent renovation project was done on a house that was built in 1941 and had been abandoned for years. The renovation cost $225,000 and resulted in a new roof, windowsills and doors; all of which increased the value of the house by about 20%. Another example is a house that was originally built as an apartment complex but has been converted into four single-family homes since 2007. Each conversion added about $100,000 to the value of each property. This indicates that if you want to buy or sell a home in this area, you will need to be prepared to spend at least $250,000 on renovations or upgrades if you want your property to be worth more than its original price.

Despite these high values however there are still some properties available for purchase or sale within this zip code at reasonable prices. For example, one 4-bedroom house located near downtown Alamogordo was recently listed for sale for just under $200K; which indicates that there may still be opportunities available for buyers who are looking for moderately priced homes within this desirable area.